Old Grove Road
10054 Old Grove Road, San Diego, CA
Property Highlights
- Acquired vacant 85,824 SF institutional quality industrial building
- Strategically located asset in a tight submarket within San Diego industrial market
- Quasi off-market acquisition that CapRock chased for +/- 18 months
Property Information
- Quasi off-market acquisition
- Vacant 85,824 SF institutional-quality industrial building
- Located ½ mile east of the I-15 freeway in the 3% vacant Central County submarket
- Previously owned by an owner-user and has never been available for lease or sale since its construction in 1982
- Prior to renovation, the building had significant functional challenges and limited curb appeal
Business Plan
- CapRock Partners solved a complex environmental issue and acquired the property nearly two years after it was originally marketed
- Upon close of escrow, CapRock immediately commenced renovations
- The completed renovations include a modernized exterior, new entrance, drought-resistant landscaping, and rebuilt office with all new finishes
The Results
- CapRock completed the renovations on time and on budget transforming a vacant industrial building into an institutional quality industrial building.
